South Sudan will return to producing more than 350,000 barrels of crude per day by the middle of 2020, up from current levels of just over 140,000 barrels per day (bpd) currently, the country’s oil minister said on Sunday.
Production is expected to rise to 270,000 bpd by the end of 2019, Oil Minister Ezekiel Lul Gatkuoth told Reuters. He was speaking on the sidelines of the Petrotech conference in Greater Noida, a satellite city of India’s capital New Delhi.
Most oil fields lost during war
The world’s youngest country, which split from Sudan in 2011, has one of the largest reserves of crude in sub-Saharan Africa, only a third of which have been explored so far. The country lost many of its oilfields to a civil war that broke out two years after its independence. A September peace agreement is largely holding.
“By the end of the year, block 3 and 7 will be hitting 180,000 bpd, blocks 1, 2 and 4 will be producing 70,000 bpd, and block 5A will be producing 20,000 bpd,” Gatkuoth said.
“We used to produce 350,000 to 400,000 bpd. We expect to go back to those levels by the middle of next year,” he said.
South Sudan has signed a preliminary agreement with Russia’s Zarubezhneft for exploring some of the blocks, Gatkuoth said.
“They are interested in block B1, B2, E1 and E2. We will be working to see where they are likely to be interested in the most,” he said.
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